Segmint To Launch Omnichannel Message Delivery Solution Leveraging Tokenized Data
- 21.07.2021 04:40 pm
Segmint, the global leader in transaction cleansing and analytics for financial institutions, announced a partnership with TokenEx, an Oklahoma-based data security company that protects sensitive data to enable critical digital operations. Segmint has engaged the company’s Payment Tokenization Services, allowing the fintech to build its foundation for multi-channel marketing message delivery. The financial services industry no longer has to deal with the challenge of having to share sensitive data across platforms.
❝Extending our capabilities by being able to leverage secure and tokenized data to innovate new products and drive growth for our financial institution clients is a tremendous win,❞ said Ed Matis, SVP of Engineering and Data Science for Segmint. ❝Segmint does not use any PII (Personally Identifiable Information) within its ecosystem of data and analytics, and TokenEx helps further safe-guard this process, maintaining security seamlessly within our operations to bifurcate both sensitive and non-sensitive data.❞
Segmint will extend the capacity within its Marketing Automation Platform, fueled by proprietary Key Lifestyle Indicators® (KLIs), to ultimately deliver marketing messages to virtually any channel, including email, SMS, direct mail, social media and more. Segmint’s financial institution clients can now leverage their enriched transaction data across multi-channels while maintaining both security and personalization.
First Busey Corporation, a financial holding company with $10.76 billion in assets, engaged Segmint to help deliver transformational change in data analytics. ❝Our first priority is always the data security and privacy of our clients. The tokenization process has provided us with increased confidence in partnering with Segmint to implement data-driven business strategies while protecting client data,❞ said MarkTrembacki, Executive Vice President and Chief Strategy Officer at First Busey.
TokenEx's Data Protection Platform leverages tokenization to protect and store sensitive personal and/or payment data. Unlike encrypted data, tokenized data is undecipherable and irreversible. This distinction is particularly important - because there is no mathematical relationship between the token and its original number, tokens cannot be returned to their original form. By using TokenEx, Segmint ensures privacy protection without disrupting payments orchestration or other critical business operations.
❝Modernizing and controlling data, while maintaining its anonymity, is a requirement to operate in an increasingly privacy-focused world,❞ said TokenEx Founder and Chief Executive Officer, Alex Pezold. ❝The partnership with Segmint results in a holistic data protection offering, further extending omnichannel strategy. Their financial institution clients will now have unlimited flexibility with their data to grow revenue across multiple channels unlike ever before.❞